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Sunday Schedule
Program
Annual
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Sunday, January 5, 2003
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3:30-5:15 p.m.
Joint Program of Sections on Business Associations and Professional Responsibility
- Paul G. Mahoney, University of Virginia, and Chair, Section on Business Associations
- Robert F. Cochran, Jr., Pepperdine University, and Chair, Section on Professional Responsibility
- Richard W. Painter, University of Illinois, Program Chair
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Maryland Suite B & C
Marriott Wardman Park Hotel
Lobby Level |
Corporate Counseling After Enron
Moderator:
Robert F. Cochran, Jr., Pepperdine University
Speakers: - Stephen M. Bainbridge, University of California at Los Angeles
- Lawrence J. Fox, Esquire, Drinker Biddle & Reath, LLP,
Philadelphia, Pennsylvania
- Susan Paris Koniak, Boston University
- Richard W. Painter, University of Illinois
This panel addresses professional responsibility issues that arise from the Enron scandal and Section 307 of the Sarbanes-Oxley Act of 2002. Section 307, based on a proposal endorsed by 40 law professors in March 2002, now mandates that the SEC promulgate professional responsibility rules for security lawyers who represent issuers, including a rule requiring a lawyer to report evidence of securities law violations and fiduciary breaches to a client's board of directors. Congress, however, went significantly beyond the law professors' proposal in drafting Section 307, and uncertainties remain from the legislation that will have to be resolved through SEC rulemaking. Now that substantial federal regulation is, for the first time, likely to be imposed on a significant part of the private bar, lawyers and clients also must decide how to respond.
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